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Chapter12 - (10-15 min I a Sale of long-term investment E...

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(10-15 min.) E 12-16A I+ a. Sale of long-term F– k. Payment of long-term debt investment F+ b. Issuance of long-term note N l. Accrual of salary expense payable to borrow cash I+ m. Cash sale of land O- c. Increase in prepaid expenses I– n. Purchase of long-term investment F– d. Payment of cash dividend I– o. Acquisition of building by O+ e. Loss on the sale of cash payment equipment F– p. Purchase of treasury stock O+ f. Decrease in merchandise inventory F+ q. Issuance of common stock for cash NIF g. Acquisition of equipment by issuance of note O– r. Decrease in accrued payable liabilities O+ h. Increase in accounts O+ s. Depreciation of equipment payable O+ i. Amortization of intangible assets O+ j. Net income (10-15 min.) E 12-18A
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Cash flows from operating activities: Net income…………………………………. $ 38,000 Adjustments to reconcile net income to net cash used for operating activities: Depreciation…………………………….. $ 17,000 Loss on sale of land…………………… 22,000 Increase in current assets other than cash……………………………… (24,000) Decrease in current liabilities………... (19,000 ) (4,000 ) Net cash provided by operating activities……………………………………..
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